Citigroup buys new office in Mumbai for $187 mln - report

MUMBAI Wed Apr 25, 2012 9:32am IST

A man walks in front of a Citibank branch in Mumbai November 20, 2008. REUTERS/Arko Datta/Files

A man walks in front of a Citibank branch in Mumbai November 20, 2008.

Credit: Reuters/Arko Datta/Files

Related Topics

Stocks

   

MUMBAI (Reuters) - U.S. bank Citigroup (C.N) has bought six floors of office space in Mumbai for 9.85 billion rupees from a consortium led by the Purnendu Chatterjee Group, the Economic Times reported on Wednesday.

Two Citigroup entities - Citibank NA and Citigroup Global Markets - have bought more than 297,000 square feet at First International Finance Centre in Bandra Kurla Complex.

The move by Citi follows other international banking and financial sector companies like Lazard and Standard Chartered (STAN.L) that have shifted to the new business district in the central part of the city from Nariman Point in south Mumbai.

"This investment represents yet another significant commitment by Citi to its franchise in India," the newspaper quoted a Citi spokesperson as saying.

Citi will shift all consumer-facing businesses such as finance, core banking and private banking to the new office, leaving administrative departments, finance, legal and HR at its present office in south Mumbai, the report said.

(Writing by Kaustubh Kulkarni; Editing by Ranjit Gangadharan)

FILED UNDER:

Reuters Showcase

IS Claim

IS Claim

Islamic State says beheads second Japanese hostage.  Full Article 

Ukraine Crisis

Ukraine Crisis

Death toll mounts in Ukraine fighting after peace talks fail.  Full Article 

Fifth Title

Fifth Title

Djokovic reigns supreme at Australian Open.  Full Article 

Journalist Freed

Journalist Freed

Jailed Al Jazeera journalist Peter Greste leaves Egypt for Australia.  Full Article 

Reuters Poll

Reuters Poll

RBI seen holding rates steady on Tuesday, minority of analysts expect cut.  Full Article 

Doubles Title

Doubles Title

Hingis wins Australian Open mixed doubles title with Paes.  Full Article 

Houston's Daughter

Houston's Daughter

Bobbi Kristina Brown revived after found unresponsive in tub  Full Article 

Supply Glut

Supply Glut

Sugar mills seek govt help to dispose of supply surplus.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage